From what I hear, you cut your calorie intake and do moderate paced aerobic exercise for the best results, along with weight training to replace the "fat" weight with "muscle" weight.
Just realise that its a slow process and that you will hit many plateus, but slowly you will get there, and if you do it slowly ( no crash lose of weight), the chances of getting it back are far less.

I find that cutting my calorie intake, drinking lots of water, and doing about 45 to 60 mins of skipping a day (with whatever other training) lets me burn fat easily. Make sure you keep your protein intake high though, I try to cut fats and only have carbs first thing in the morning and after training.
This is of course, only what works for me.